Rhino Resource Partners executed a new three-year, $80 million financing agreement with Colbeck Capital Management. The financing agreement is a multidraw term loan with initial proceeds used to refinance Rhino’s revolving credit facility with PNC Bank, fully collateralize the partnership’s existing letters of credit and fund general working capital purposes. Rhino plans to use the delayed draw portion of the financing agreement for potential strategic acquisitions and accretive organic growth opportunities.
Read the Whole Article in our Digital Edition